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“Trade Scheme Payments” to be Treated as Commission: ITAT Upholds PCIT’s Revision under Section 263 in Income Tax Case [Read Order]

Advika Dwivedi

The bench of the Income Tax Appellate Tribunal (ITAT), Delhi, upheld the Principal Commissioner of Income Tax’s (PCIT) revision order under...

Technical Defects Do Not Invalidate Assessment: ITAT Upholds Validity of Digitally Signed DIN-Based...

Rectification Order by AO Neither Erroneous Nor Prejudicial, Revisionary Powers Misapplied on Rental...

12 days delay in filing ITR: Delhi HC Quashes order passed in Mechanical Manner [Read Order]

AO’s Comprehensive Scrutiny Nullifies Alleged Lack of Inquiry u/s. 263: ITAT Sets Aside PCIT Order...

PCIT Orders Reassessment of Investments and FDs u/s 263: ITAT Sets Aside Order, Holds AO Properly Verified Details [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) sets aside Principal Commissioner of Income Tax (PCIT) order directing reassessment of investments and fixed deposits under Section 263 of...

SCN Issued for Property Purchase to Wrong Assessment Year: ITAT Quashes PCIT Order [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT ) set aside the order of the Principal Commissioner of Income Tax (PCIT) passed under Section 263 of the Income Tax Act, 1961, holding...

Taxpayer Can Raise Objections Before PCIT: Gujarat HC Declines to Quash Section 263 Notice on Demonetisation Cash Deposits [Read Order]

In a recent ruling, the Gujarat High Court declined to quash a Section 263 notice, holding that the taxpayer has the opportunity to raise objections before the Principal Commissioner of Income Tax...

Major Win for Assessees: ITAT Confirms Deductibility of CSR Donations u/s 80G of Income Tax Act [Read Order]

The Mumbai bench of Income tax Appellate Tribunal (ITAT) has confirmed that donations made as part of mandatory Corporate Social Responsibility (CSR) expenditure under the Companies Act, 2013 are...

CSR Contributions Eligible For Deduction as Donations If Conditions Satisfied u/s 80G: ITAT Accepts 50% of Total Donation [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that Corporate Social Responsibility (CSR) contributions can qualify for deductions under Section 80G of the Income Tax Act, 1961 if...

ITAT quashes PCIT Directions on TDS under Section 194J and Closing Stock Valuation [Read Order]

In partial relief to an assessee, the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has quashed two major directions issued by the Principal Commissioner of Income Tax (PCIT) under Section...

Explanation to Income Tax S. 12AB(4) on 'Specified Violations' Introduced in Finance Act, 2022 Applies Prospectively Only: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has held that the Explanation to Section 12AB(4) of the Income Tax Act, 1961, introduced by the Finance Act, 2022, which explains ...